Commercial Real Estate Market in Franklin Grv, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
3 active listings and 45 off-market properties in Franklin Grv, IL.
Market Trends
Franklin Grv, IL spans 44.9 square miles in Lee County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Franklin Grv, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Franklin Grv, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Franklin Grv, IL runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Franklin Grv, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Franklin Grv, IL has 1,430 residents in 654 households. Density runs 32 people per square mile. Median household income here is $74,050 and median gross rent $822 a month.
1,430
Population
654
Households
2.2
Avg Household Size
46
Median Age
26%
College-Educated
94%
High-School Grad
44.9 sq mi
ZIP Area
32
Density / Sq Mi
$74,050
Median Household Income
$39,907
Median Earnings
$822
Median Rent
$148,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Ashton | — | — |
| Nachusa | — | — |
| Lee Center | — | — |
| Eldena | — | — |
Commercial property in Franklin Grv, IL asks $150/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Franklin Grv?
Commercial property in Franklin Grv, IL asks an average of $150 per square foot.
Where does Realmo's Franklin Grv market data come from?
Realmo compiles Franklin Grv, IL figures from 3 recent recorded sales, 3 active sale listings, 45 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 0 active for-lease listings in Franklin Grv, IL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
